5 ways to save money

There is hardly a person who would not lime to have some extra savings on the side. Weather the reason for the saving is a fund for emergencies, a dream holiday, in case of job lost or just to create the psychological security. However, the savings does sound rational, but occasionally it is hard to save money, and you simply do not feel motivated enough to save money. Here are 5 motives and solutions how to manage to save some extra cash.

 Save little and often

Do not think that you are not saving, unless you put some significant sum aside. That would mean as if you tell yourself that it is not worth exercising, unless you have all day to exercise. Consider saving penny every day. Give up something in order to set that amount aside in your “piggy bank”. Even the smallest amounts will eventually become significant amount. As they say, “brick by brick, stone by stone”.

Read financial newspapers

Maybe you are not overly interested in the topic, but by reading financial newspapers, magazines and other literature will inform and educate you in this direction.

Keep a journal of savings

Not only should you keep a journal of savings, but also record all your income and expenses. Write down everything you earn and everything you spend. This way you will best spot where you waste the most of your money.

Have a specific goal

Very clear goal can help you in successful savings. Knowing the amount you need for specific item (goal) will help you estimate how much you need to save. If you focus on the ultimate goal, it will surely motivate you.

Deposit money

If you do not want to have your savings at your hand (in house) and you do not think it is “safe” with you, you can consider depositing it for a certain period.

All tags